Computer-based payment transaction system and repository

Abstract

One embodiment of the invention relates, to a method of operating a payment transaction system maintained by a first party who receives an instruction for a first transaction. The instructed first transaction is directed from a second party to a third party, and includes a transaction date on which the payment transaction system is to give effect to the first transaction. The first party stores the transaction instruction into a database, and permits the third party to access those transaction instructions stored in the database that are directed to the third party. The first party then receives a request from the third party to bring forward at least in part the instructed first transaction. In response to the request, the first party re-directs the first transaction at least in part from the third party to the first party. In addition, the first party creates a new instruction for a second transaction in the system. The second transaction is directed from the first party to the third party and has a second transaction date which is prior to the first transaction date.

1 - 44 . (canceled) 
     
     
         45 . A method of operating a payment transaction system by a first party comprising:
 receiving an instruction for a first transaction, wherein the instructed first transaction is directed from a second party to a third party, and the transaction instruction includes a first transaction date on which the payment transaction system is to give effect to the first transaction;   storing said transaction instruction into a database;   permitting said third party to access transaction instructions stored in the database that are directed to the third party;   receiving a request from the third party to bring forward at least in part the instructed first transaction;   in response to said request, redirecting the first transaction at least in part from the third party to the first party, and creating a new instruction for a second transaction in the system, wherein said second transaction is directed from the first party to the third party and has a second transaction date which is prior to said first transaction date.   
     
     
         46 . The method of  claim 45 , further comprising storing an instruction in respect of the second transaction into the database. 
     
     
         47 . The method of  claim 45 , further comprising giving effect to the second transaction on the second transaction date, and to the redirected first transaction on the first transaction date. 
     
     
         48 . The method of any  claim 45 , wherein the third party specifies said second transaction date. 
     
     
         49 . The method of  claim 45 , wherein the third party specifies that said second transaction corresponds to a first component of the first transaction, and the method further comprises creating a third transaction from the first party to the third party, wherein said third transaction has a transaction date equal to the first transaction date and a value equal to a second component of the first transaction, wherein said first and second components correspond to a total value of the first transaction. 
     
     
         50 . The method of  claim 45 , further comprising monitoring transactions from the second party that are redirected from the third party to the first party, and raising an alert when the monitored transactions exceed a predetermined threshold. 
     
     
         51 . The method of  claim 50 , further comprising, in response to said alert, preventing further transactions from the second party from being redirected. 
     
     
         52 . A method of operating a payment transaction system by a financial institution comprising:
 receiving an instruction for a first future dated payment, wherein the instructed first future dated payment is directed from a buyer to a supplier, and the instruction includes a first payment date on which the system is to give effect to the first future dated payment instruction;   storing said first future dated payment instruction into a database;   permitting said supplier to access future dated payment instructions stored in the database that are directed to the supplier;   receiving a request from the supplier to bring forward at least in part the instructed first future dated payment; and   in response to said request, redirecting the instructed first future dated payment at least in part from the supplier to the financial institution, and creating a new instruction for a second payment, wherein said second payment is directed from the financial institution to the supplier and has a second payment date which is prior to said first payment date.   
     
     
         53 . A method of operating a payment transaction system by a financial institution comprising:
 receiving an instruction for a first future dated payment, wherein the instructed first future dated payment is directed from a buyer to a supplier, and the instruction includes a first payment date on which the system is to give effect to the first future dated payment instruction and a first currency in which the payment is to be made;   storing said first future dated payment instruction into a database;   permitting said supplier to access future dated payment instructions stored in the database that are directed to the supplier;   receiving a request from the supplier to convert at least in part the instructed first future dated payment into a second currency; and   in response to said request, redirecting the instructed first future dated payment at least in part from the supplier to the financial institution, and creating a new instruction for a second payment, wherein said second payment is directed from the financial institution to the supplier and is in said second currency.   
     
     
         54 . A method of operating a central repository for instructions for transactions, said method comprising:
 receiving multiple transaction instructions from at least one originator, each transaction instruction specifying the originator and a target, and further specifying a date on which the transaction is to be initiated, wherein the multiple received transactions specify different targets;   storing the received multiple transaction instructions into a database;   permitting a target to access from the database those transactions instructions out of the multiple received transaction instructions for which it is specified as a target; and   initiating the multiple transaction instructions on the specified date for each transaction.   
     
     
         55 . A method of operating a central repository for future dated payment instructions, said method comprising:
 receiving multiple future dated payment instructions from at least one buyer, each transaction instruction specifying the buyer and a supplier to whom the payment instruction is directed, and further specifying a date on which the payment is to be initiated, wherein the multiple received future dated payment instructions specify different suppliers;   storing the received multiple future dated payment instructions into a database;   permitting a supplier to access from the database those future dated payment instructions out of the multiple received future dated payment instructions for which it is specified as the supplier; and   initiating the multiple future dated payments on the specified date for each instruction.   
     
     
         56 . The method of  claim 55 , further comprising identifying all the multiple future dated payment instructions directed to a particular supplier, and providing summary information in respect of the identified payment instructions. 
     
     
         57 . The method of  claim 56 , wherein the multiple future dated payment instructions are in two or more different currencies, and providing the summary information includes normalising the identified payment instructions to a single currency. 
     
     
         58 . A computer program product comprising machine instructions for implementing a method of operating a payment transaction system by a first party comprising:
 receiving an instruction for a first transaction, wherein the instructed first transaction is directed from a second party to a third party, and the transaction instruction includes a first transaction date on which the payment transaction system is to give effect to the first transaction;   storing said transaction instruction into a database;   permitting said third party to access transaction instructions stored in the database that are directed to the third party;   receiving a request from the third party to bring forward at least in part the instructed first transaction;   in response to said request, redirecting the first transaction at least in part from the third party to the first party, and creating a new instruction for a second transaction in the system, wherein said second transaction is directed from the first party to the third party and has a second transaction date which is prior to said first transaction date.   
     
     
         59 . The computer program product of  claim 58 , wherein the method further comprises giving effect to the second transaction on the second transaction date, and to the redirected first transaction on the first transaction date. 
     
     
         60 . The computer program product of  claim 58 , wherein the third party specifies that said second transaction corresponds to a first component of the first transaction, and the method further comprises creating a third transaction from the first party to the third party, wherein said third transaction has a transaction date equal to the first transaction date and a value equal to a second component of the first transaction, wherein said first and second components correspond to a total value of the first transaction. 
     
     
         61 . The computer program product of  claim 58 , wherein the method further comprises monitoring transactions from the second party that are redirected from the third party to the first party, and raising an alert when the monitored transactions exceed a predetermined threshold. 
     
     
         62 . The computer program product of  claim 61 , wherein the method further comprises, in response to said alert, preventing further transactions from the second party from being redirected. 
     
     
         63 . A payment transaction system for operation by a first party comprising:
 a data input for receiving an instruction for a first transaction, wherein the instructed first transaction is directed from a second party to a third party, and the transaction instruction includes a first transaction date on which the payment transaction system is to give effect to the first transaction, and for receiving a request from the third party to bring forward at least in part the instructed first transaction;   a database for storing said transaction instruction, wherein said third party is permitted to access transaction instructions stored in the database that are directed to the third party; and   control logic responsive to said request to redirect the first transaction at least in part from the third party to the first party, and to creating a new instruction for a second transaction in the system, wherein said second transaction is directed from the first party to the third party and has a second transaction date which is prior to said first transaction date.